Don’t Tax People For the Failure of Obamacare CO-OPs
Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) spoke on the House floor today in favor of H.R. 954, the CO-OP Consumer Protection Act.
Full remarks are below, or watch online here.
“Mr. Speaker, Obamacare is collapsing all around us. Insurers are backing out, people can’t afford the premiums, and even heavily subsidized CO-OPs are crashing.
“More than $2 billion—that was two billion—were funneled into 23 CO-OPs across the country. Sixteen have gone under or are about to go under. The other seven? They’re just treading water.
“Now, what does that mean? That means people who had insurance, who purchased it just as Obamacare forced them to do, were left in the lurch when the CO-OP they got their insurance was failed. Now, that’s bad enough. This is just another way the promise that all of us were told ‘if you like your plan you can keep it’ was broken.
“So these people are left without insurance through no fault of their own—insurance they were forced to buy—and what is the response? What does Obamacare say? Tax them. Tax them for not having insurance.
“Now, I don’t know about you Mr. Speaker, but isn’t that a little crazy? How can you punish people for not having insurance when the CO-OP they bought their insurance from goes under? It’s bad enough people are left without insurance because of the failures of Obamacare, but why should we have the IRS punish them on top of that.
“Frankly, you don’t solve problems by kicking people when they’re down.
“Now, Representative Adrian Smith’s (NE-03) bill would stop this. Government shouldn’t be in the business of taxing people when they lose their insurance, especially when the CO-OP they used failed. Nothing less than replacing Obamacare will stop all the havoc it’s causing, but in the meantime, we have an obligation to offer relief to the people hurt by this law.
“I yield back.”